This past week in gold

Jack Chan
Posted Jul 30, 2018

GLD – on sell signal.

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SLV – on sell signal.

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GDX – on sell signal.

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XGD.TO – on sell signal.

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CEF – on sell signal.

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GDXJ – on sell signal.

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Speculation in gold is now at the lowest level since 2016.

Speculation on silver is also at a multi year low.

$HUI is now testing major support after drifting sideways for almost two years.

Summary

Long-term – on major buy signal.
Short-term – on mixed signals.
Gold sector cycle is down.
COT data is supportive for overall higher metal prices.
From a contrarian point of view, the current extreme bearish sentiment is an excellent buying opportunity for long-term investors.
We are holding long-term positions.

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Jul 28, 2018
Jack Chan
Archives
email: jack@simplyprofits.org
website: www.simplyprofits.org

Disclosure
We do not offer predictions or forecasts for the markets. What you see here is our simple trading model which provides us the signals and set ups to be either long, short, or in cash at any given time. Entry points and stops are provided in real time to subscribers, therefore, this update may not reflect our current positions in the markets. Trade at your own discretion.

We also provide coverage to the major indexes and oil sector.

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